Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 29.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,419 shares of the bank’s stock after selling 4,666 shares during the period. Hsbc Holdings PLC’s holdings in Sandy Spring Bancorp were worth $277,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SASR. Scarborough Advisors LLC bought a new stake in Sandy Spring Bancorp in the fourth quarter valued at $77,000. EntryPoint Capital LLC bought a new stake in Sandy Spring Bancorp in the 1st quarter valued at about $98,000. Hantz Financial Services Inc. acquired a new position in Sandy Spring Bancorp during the 2nd quarter valued at about $105,000. Meeder Asset Management Inc. bought a new position in Sandy Spring Bancorp in the 2nd quarter worth about $117,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp in the first quarter valued at approximately $122,000. 66.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson increased their price objective on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, Sandy Spring Bancorp currently has an average rating of “Hold” and an average price target of $27.00.

Sandy Spring Bancorp Stock Up 1.7 %

Shares of SASR stock opened at $31.06 on Friday. The business’s fifty day moving average is $30.49 and its 200-day moving average is $25.68. Sandy Spring Bancorp, Inc. has a 1 year low of $19.27 and a 1 year high of $34.19. The stock has a market cap of $1.40 billion, a PE ratio of 15.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The company had revenue of $184.70 million during the quarter, compared to the consensus estimate of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same period in the prior year, the company earned $0.60 EPS. Equities analysts expect that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s payout ratio is 66.67%.

Sandy Spring Bancorp Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.